Evolution of traditional banks' business models

The article considers topical issues of how banks are developing in the new realities of the digital economy, and presents the results of research on theoretical and practical aspects of banks' business models evolution. The methodology uses such approaches as scientific abstraction, system and...

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Autor principal:	Panova Galina S.
Formato:	article
Lenguaje:	EN SR
Publicado:	Faculty of Business and Entrepreneurship, Belgrade 2021
Materias:	innovation technology financial market banks business models digital platform ecosystem Business HF5001-6182
Acceso en línea:	https://doaj.org/article/f71eaab116134fcc84efd07111a23889
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spelling	oai:doaj.org-article:f71eaab116134fcc84efd07111a238892021-12-05T21:06:26ZEvolution of traditional banks' business models2217-97392560-335310.5937/intrev2102148Phttps://doaj.org/article/f71eaab116134fcc84efd07111a238892021-01-01T00:00:00Zhttps://scindeks-clanci.ceon.rs/data/pdf/2217-9739/2021/2217-97392101146P.pdfhttps://doaj.org/toc/2217-9739https://doaj.org/toc/2560-3353The article considers topical issues of how banks are developing in the new realities of the digital economy, and presents the results of research on theoretical and practical aspects of banks' business models evolution. The methodology uses such approaches as scientific abstraction, system and factor analysis, methods of grouping, detailing, and synthesis. The topic is relevant for banks first of all from the economic science point of view, since until now the conceptual apparatus of not only the types of bank business models but also the definition of bank business models and their ecosystems remain controversial. However, in practice the applying of new strategic solutions is needed to solve the triune task: to ensure profitability of banks' business while maintaining liquidity and minimizing risks. The obtained results allowed us to reveal the important role of the banks' business models innovative transformation, as well as to reveal the tendency of improving the intermediary function of banks on the modern stage of digital technologies' development. The article substantiates the need to develop new approaches to administering business processes, expanding banking activities using digital platforms, and reveals the problem that requires the speediest solutions in developing regulation standards for financial ecosystems.Panova Galina S.Faculty of Business and Entrepreneurship, Belgradearticleinnovationtechnologyfinancial marketbanksbusiness modelsdigital platformecosystemBusinessHF5001-6182ENSRInternational Review, Vol 2021, Iss 1-2, Pp 146-152 (2021)
institution	DOAJ
collection	DOAJ
language	EN SR
topic	innovation technology financial market banks business models digital platform ecosystem Business HF5001-6182
spellingShingle	innovation technology financial market banks business models digital platform ecosystem Business HF5001-6182 Panova Galina S. Evolution of traditional banks' business models
description	The article considers topical issues of how banks are developing in the new realities of the digital economy, and presents the results of research on theoretical and practical aspects of banks' business models evolution. The methodology uses such approaches as scientific abstraction, system and factor analysis, methods of grouping, detailing, and synthesis. The topic is relevant for banks first of all from the economic science point of view, since until now the conceptual apparatus of not only the types of bank business models but also the definition of bank business models and their ecosystems remain controversial. However, in practice the applying of new strategic solutions is needed to solve the triune task: to ensure profitability of banks' business while maintaining liquidity and minimizing risks. The obtained results allowed us to reveal the important role of the banks' business models innovative transformation, as well as to reveal the tendency of improving the intermediary function of banks on the modern stage of digital technologies' development. The article substantiates the need to develop new approaches to administering business processes, expanding banking activities using digital platforms, and reveals the problem that requires the speediest solutions in developing regulation standards for financial ecosystems.
format	article
author	Panova Galina S.
author_facet	Panova Galina S.
author_sort	Panova Galina S.
title	Evolution of traditional banks' business models
title_short	Evolution of traditional banks' business models
title_full	Evolution of traditional banks' business models
title_fullStr	Evolution of traditional banks' business models
title_full_unstemmed	Evolution of traditional banks' business models
title_sort	evolution of traditional banks' business models
publisher	Faculty of Business and Entrepreneurship, Belgrade
publishDate	2021
url	https://doaj.org/article/f71eaab116134fcc84efd07111a23889
work_keys_str_mv	AT panovagalinas evolutionoftraditionalbanksbusinessmodels
_version_	1718371040889929728

Evolution of traditional banks' business models

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